DALLAS, April 4,
2023 /PRNewswire/ -- Ashford Securities LLC ("Ashford
Securities"), a wholly-owned subsidiary of Ashford Inc. (NYSE
American: AINC) ("Ashford"), continues to receive strong interest
from the investment community for its recently launched product,
shares of Series J Redeemable Preferred Stock (brokerage shares)
and Series K Redeemable Preferred Stock (advisory shares) of
Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust").
In total, Ashford Trust has sold more than $13.3 million of its Series J and Series K
Redeemable Preferred Stock through Ashford Securities as dealer
manager since the offering commenced, including $9.1 million in March of 2023. In connection with
the Ashford Trust offering of Series J & K Redeemable Preferred
Stock (the "Offering"), Ashford Securities has assembled a
syndicate of 27 broker-dealers and RIA firms.
"We are very pleased with the early success of the Ashford Trust
Redeemable Preferred Stock offering," commented C. Jay Steigerwald III, President of Ashford
Securities. "Adoption of the offering by independent broker dealers
and RIAs has been very strong. We are very excited about our
continued success and look forward to meeting the needs of our
broker dealer, RIA, and institutional partners."
About Ashford Securities LLC
Ashford Securities, member FINRA/SIPC, is an SEC-registered
broker-dealer that is wholly-owned by Ashford and serves as the
distributor for investment products within the Ashford group of
companies.
About Ashford Hospitality Trust, Inc.
Ashford Hospitality Trust is a real estate investment trust
(REIT) focused on investing predominantly in upper upscale,
full-service hotels.
About Ashford Inc.
Ashford is an alternative asset management company with a
portfolio of strategic operating businesses that provides global
asset management, investment management, and related services to
the real estate and hospitality sectors.
Forward-Looking Statements
Certain statements and assumptions in this press
release contain or are based upon "forward-looking" information and
are being made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements in this press release include, among others, statements
about the success of the Offering. These forward-looking statements
are subject to risks and uncertainties. When we use the words "will
likely result," "may," "anticipate," "estimate," "should,"
"expect," "believe," "intend," or similar expressions, we intend to
identify forward-looking statements. Such statements are subject to
numerous assumptions and uncertainties, many of which are outside
of our control.
These forward-looking statements are subject to known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated, including, without
limitation: the impact of COVID-19 on our business and investment
strategy; our ability to repay, refinance, or restructure our debt
and the debt of certain of our subsidiaries; anticipated or
expected purchases or sales of assets; our projected operating
results; completion of any pending transactions; our understanding
of our competition; market trends; projected capital expenditures;
the impact of technology on our operations and business; general
volatility of the capital markets and the market price of our
common stock and preferred stock; availability, terms and
deployment of capital; availability of qualified personnel; changes
in our industry and the markets in which we operate, interest rates
or the general economy; and the degree and nature of our
competition. These and other risk factors are more fully discussed
in Braemar's filings with the Securities and Exchange Commission
(the "SEC").
The forward-looking statements included in this press release
are only made as of the date of this press release. Such
forward-looking statements are based on our beliefs, assumptions,
and expectations of our future performance taking into account all
information currently known to us. These beliefs, assumptions, and
expectations can change as a result of many potential events or
factors, not all of which are known to us. If a change occurs, our
business, financial condition, liquidity, results of operations,
plans, and other objectives may vary materially from those
expressed in our forward-looking statements. You should carefully
consider these risks when you make an investment decision
concerning our securities. Investors should not place undue
reliance on these forward-looking statements. The Company can give
no assurance that these forward-looking statements will be attained
or that any deviation will not occur. We are not obligated to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or circumstances,
changes in expectations, or otherwise, except to the extent
required by law.
Additional Information
The SEC has declared effective the registration statement
(including a prospectus) filed by Ashford Trust for the Offering to
which this communication relates. Before you invest, you should
read the final prospectus and the accompanying prospectus
supplements, forming a part of that registration statement and
other documents Ashford Trust has filed with the SEC for more
complete information about Ashford Trust and the Offering to which
this communication relates. In particular, you should
carefully read the risk factors described in the final prospectus,
the accompanying prospectus supplements and the documents
incorporated by reference therein. You may get these documents for
free by visiting EDGAR on the SEC's website at www.sec.gov.
Alternatively, Ashford Trust, Ashford Securities or any dealer
participating in the offering will arrange to send you the
prospectus if you request it by calling toll-free
1-800-970-8929.
The final prospectus and prospectus supplement no. 1 for the
Offering, dated May 4, 2022 and
September 14, 2022, respectively, can
be accessed through the following links:
-
https://www.sec.gov/Archives/edgar/data/1232582/000110465922056200/tm2213690-3_424b3.htm
-
https://www.sec.gov/Archives/edgar/data/1232582/000110465922100064/tm2225818-1_424b3.htm
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SOURCE Ashford Securities